Crude oil prices decline in international market

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Crude oil prices decline in international market

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Sources say, the next week OPEC meeting will decide the future strategy about oil production.

03 June,2011 12:42 pm

The crude oil prices declined in the international market after reports of increase in its supply and addition to the US oil reservoirs.In New York market, oil price came down to $100 per barrel after a cut of $0.34 in per barrel price whereas prices stood at $115 per barrel in London after a cut of $0.38 in per barrel prices.Fluctuation in prices is expected due to OPEC meeting next week. The meeting will decide whether to increase the oil production or freeze it at the present level.